Published on 4/15/2020 in the Prospect News Structured Products Daily.
New Issue: UBS prices $7.16 million trigger contingent yield notes linked to Russell, S&P
Chicago, April 15 – UBS AG, London Branch priced $7.16 million of trigger callable contingent yield notes due April 8, 2025 linked to the lesser performing of the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Semiannually, the notes pay a contingent coupon at a rate of 9.25% per year if each index closes at or above its coupon barrier, 55% of its initial level, on the observation date for that period.
The notes are callable at par plus any contingent coupon due on any semiannual coupon observation date.
If the notes are not called and each index finishes at or above its 55% downside threshold, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the lesser-performing index’s final level is below its initial level.
UBS Securities LLC and UBS Investment Bank are the underwriters.
| Issuer: | UBS AG, London Branch
|
| Issue: | Trigger callable contingent yield notes
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| Underlying indexes: | Russell 2000 and S&P 500
|
| Amount: | $7,156,000
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| Maturity: | April 8, 2025
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| Coupon: | 9.25% per year, payable semiannually if each index closes at or above its coupon barrier on observation date for that period
|
| Call option: | At par plus coupon on any semiannual coupon observation date
|
| Price: | Par
|
| Payout at maturity: | If each index finishes at or above downside threshold, par; otherwise, 1% loss for every 1% that lesser-performing index’s final level is below initial level
|
| Initial levels: | 1,052.053 for Russell 2000 and 2,488.65 for S&P
|
| Downside/coupon thresholds: | 578.629 for Russell 2000 and 1,368.76 for Dow, or 55% of initial levels
|
| Pricing date: | April 3
|
| Settlement date: | April 9
|
| Underwriters: | UBS Securities LLC and UBS Investment Bank
|
| Fees: | None
|
| Cusip: | 90276BAM5
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